During a recent television appearance on Consuelo Mack Wealth Track, Merrill Lynch’s chief investment strategiest had some comments both about the equity market and the housing bubble. “People are saying we’re just entering a period of low returns, but…for the S&P 500, we’ve been in a period of low returns for eight years now, going back before the technology bubble. Basically that was the time when people began to think that stocks were the, quote, ‘asset class of choice.’” Bernstein reminded viewers that when “too much money chases too few ideas, you depress returns, and that’s what happened in the United States equity market.” On housing he agrees with Merrill’s chief economist, David Rosenberg, that “housing will be in a protracted bear market for quite some time.” He says that media stocks actually have a negative correlation to housing. “So if you wanted to hedge consumer exposure, you do it using media stocks…It’s not only an anti-consumer play, it’s a contrarian play as well.”–Robert F. Keane
Her mother “was such a pioneer" starting out in the advisory field in 1975, says the current head of KMS Financial.
S&P analysts are a little more interested interest rates and investment quality.
Women help lead key teams at E-Trade, such as the innovation lab, product management and tech development.
Sponsored by Orion Advisor Technology
Financial planning services help advisors differentiate themselves, improve client relationships, drive better outcomes, and more. So why don’t more advisors offer financial planning?
Sponsored by Orion Portfolio Solutions
Learn how to use seven relationship skills to attract, serve, and retain high-net-worth investors.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.